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Studio B With Shepard Smith

News/Business. Shepard Smith. Shepard Smith reports on the days top news stories. New. (CC)

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01:00:00

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mpeg2video

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720

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480

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U.s. 8, Plavix 8, Us 7, Shepard 6, Bermuda 5, Washington 5, Iran 5, Mexico 5, Pentagon 4, New York 3, Florida 3, San Bruno 3, United States 3, America 3, Andrew Napolitano 2, Medicare 2, Janice 2, Boehner 2, Mitch Mcconnell 2, Mr. Boehner 2,
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  FOX News    Studio B With Shepard Smith    News/Business. Shepard Smith. Shepard Smith  
   reports on the days top news stories. New. (CC)  

    September 13, 2010
    3:00 - 4:00pm EDT  

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here. thanks to the good folks at bcg for having me in. great meeting all my new friends. thanks everybody for watching. >> shepard: a fox news alert. we are awaiting a news conference on the massive natural gas explosion that happened last week in san bruno in northern california. a blast which killed at least four people, damaged or destroyed dozens of homes. at any moment the utility company is expected to update reporters on what happened. it comes as we learn several new developments in the blast. first look at the amateur cell phone video we have been seeing today from just a few moments at the explosion happened. the video capturing the intensity of the flames there. police are letting a handful of home owners today back into their property to survey the damage. in some cases nothing is left. but the investigation is far from over. officials say several people
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believed -- they believe were in the area at the time of the blast are still missing. claudia cowen live in san bruno with the latest. hi, claudia. >> reporter: after days of being displaced, hundreds of residents here in san bruno are returning to a sense of normalcy in 300 green tagged homes safe to occupy. hopes that suffered only minor damage. take a look behind me as the so-called disaster area. 84 red and yellow tagged homes remain evacuated. too damaged or unsafe to occupy or they are completely incinerated like this home here is just gone. there is now a chain link fence surrounding the crater caused by the blast and for investigators this big hole could be a see source of information. >> we will be looking into the crater because the size and shape is helpful to determine the cause but also looking this there to see if there are any metal fragments and evidence of gas leaks and looking there to see what we can as certain to help us determine the cause.
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>> reporter: residents are being called upon by federal investigators to help them figure out what caused the disaster. the cell phone video capturing the explosion. the surveillance video from a nearby grocery store. metal frag innocents found in the yard, all could be important clues. federal investigators shipped a 28-foot long pipe that was blown out on to the street back to the metallurgy labs in washington, d.c. for analysis. state regulators ranked the section of pipe as high risk because of islamist its proximo many homes. the state ordering pacific gas and electric to inspect its pipeline system across the state. looking for leaks in roughly 5,000 miles of pipeline. back to you. >> shepard: live from where the news conference is set to begin. one of our correspondents from fox 2 news for the bay area preparing for a live report on
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that matter and we will get there for the live news conference moments from now and talk with a couple who shot the amateur video which you saw and hear their account of the blast, live coming up inside studio b. first developing this afternoon, a court date for the man accused of trying to blow up an airliner on christmas day. he is in michigan now, where he is supposed to find out when his trial is to begin. the trial may not happen if the lawyers put together a plea deal. his name is abdulmutallab. passengers are said to have subdued him and he has been in federal custody since. the terror suspect has been cooperating with investigators since his arrest and last week we learned his attorneys have met with prosecutors not once but several times trying to work out some sort of deal for the 23-year-old man who frankly looks a lot younger. and now there is word the attorneys may not represent him
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any more. details on this, the suspect just spoke in court. what happened? >> abdulmutallab put forth statements. he said he no longer wants the public defender and he doesn't think they can fairly represent him. he wants to represent himself. just getting in quotations from the court hearing. the judge told him she "strongly advises against him defending himself." she offered to get him a new public defender to "try out for a month or so." no, he replied to that. she said do you understand if you take the witness stand you would have to question yourself not just make a statement? he said yes, i prefer to represent myself. any representation i have there will always be a conflict of interest and he then went on to say rather extraordinarily to the judge if i want to plead guilty to some counts and this is a quote if i want to plead guilty to some counts basically
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how would that go? the judge said she could not advise him. another hearing is set for october 14th and will be a standby cancel but right now it looks as though he will go ahead and represent himself. >> shepard: the plea deal no longer a possibility, huh? >> one would assume that the plea deal is off the table or equally assume he could negotiate that plea deal himself but it seems unlikely. the public defender had been holding several meets the past few months with the prosecutors to work out what she had referred to as a resolution and that essentially means a plea agreement. it appears that is highly unlikely if abdulmutallab is going to represent himself. >> shepard: part of what is called a new wave of al-qaeda operatives. why so? >> something we touched on during the anniversary coverage. they talked a lot about home grown terrorists but also talked about al-qaeda now turning to the smaller plots
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because they believe al-qaeda is struggling to carry out the so-called spectacular attacks so you are seeing plots like this one, the christmas day bomber, like the fort hood shootings and like the attempted times square bombing you see the three protanists in each of the cases there. they say these are the kind of attacks al-qaeda wants to carry out. are not connected. each given a task and inspired by firey rhetoric and go out and attempt to carry out the deadly attacks. >> shepard: jonathan is chatting about the underwear bomber and the rest of the day's top stories at our website fox news.com/shep. you can join in by clicking on the "on the hunt" icon with jonathan hunt and we will have that for you at fox news.com/shep. fox weather alert now. hurricane igor are could become the first category 5 storm of this season. it is swirling away in the atlantic. and just ahead of another
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storm. see the one behind it there? that is tropical storm julia. meteorologist janice dean the weather machine live in the fox extreme weather center. when is igor going to make his presence known or is that a fish storm what do we know? >> could affect bermuda and could become a category 5 storm as early as today. a new advisory at 5:00 p.m. and hurricane hunters have been flying into the storm so we will have new coordinates and a new track at 5:00 as well. i want to show you pictures we have just got in from nasa from the national space station. i haven't seen this yet. awesome as the space station passed over igor. that is visually stunning. you can see the eye, just amazing. here is the visual imagery and the eye and the stadium effect that happens when the storms get really strong. good outflow of the storms being ventilated very well, shepherd. and taking a look at the path in the next several days we look like we are going to see a
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major hurricane as it comes very close to bermuda. there is bermuda right now. even if bermuda doesn't take a direct hit, this is a large powerful storm, they will feel the effects of this storm. >> shepard: when do we expect igor to make landfall? >> over the weekend coming close to bermuda and the u.s. will feel the effects of the storm as well. large waves, surfs and rip crepts. people will be warned to stay out of the water. >> shepard: and behind this one, another one, julia, right? >> tropical storm julia and i want to point out this feature we were talking about it last the week on the fox report. center thatre sen they are could make its way into the gulf of mexico over the next couple of days. right in the heart of hurricane season and everything needs to be monitored. >> and you doll that for us, right? >> you bet. >> shepard: janice dean the weather machine. a just in from the gulf of mexico where bp reports it
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restarted its relief well drilling operations just about 30 minutes ago. operations from the developmental driller three or the dv 3 today, 1:40 p.m. central da daylight time follog successful installation of a lockdown sleeve a mechanical device that has the mc 252 hanger. i think that largely they don't want us to know what they are could doing but the truth is they are working on the relief well and when they get it done they will let us know. there you go. a brand new request in negotiations to release an american woman held in iran. the family is asking that the company drop its demands for a half million dollars bail. we will get to the details next. top companies exchanging back and forth with the white house about possible compromise on tax cuts. the president said he is in a wrestling match now with the
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republican side on tax cuts for the rich. the debate, the politics and all the rest when studio b continues in just 90 seconds. [ male announcer ] ziploc presents ziplogic. we throw out over $500 in food every year. help save more of it with ziploc slider bags with the smartzip seal. protection you can hear. get ziploc. and get more out of it. [ female announcer ] s.c. johnson. a family company. ♪ [ mom ] game time is all about the traditions. it'all about the tackles and the touchdowns... and watching my boys do what they do. but for me, it's even more than that. game time is about our time. together. [ female announcer ] get low prices on all your favorites for the game.
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save money. live better. walmart. >> shepard: one of the loudest debates in washington right now has to do with what they will do about the bush era tax cuts. the white house wants to create a cutoff point of $250,000 in simple terms if your family makes less than that a year wore taxes would tay at the same rate they are now. if you make more your taxes would go up as decided by law as it was put into place by
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president bush. until now the house minority leader said the tax breaks should continue for everybody including those who make more than $250,000. yesterday he said and for the first time he would go along with the administration proposal reluctantly. >> if the only option i have is to vote for those 250 and below of course, i will do that. i will fight to make sure we extend the current tax cuts for all americans. >> the white house press secretary robert gibbs heard that and said this. >> we would welcome as the president outlined that we shouldn't hold the middle class hostage and continue the tax cuts that have been in place for them in tough economic times and not hold them hostage to the tax cuts for the wealthy. >> they would seem to have found a sliver of common ground. but they are still taking shots at each other. you can count on that. and other republicans are saying there is no way they will vote to renew tax breaks
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that don't include the wealthiest americans. peter barnes from the fox business network live in washington. the president just finished speaking to a group of voters and mentioned sort of a wrestling match here. did he mention congressman boehner? >> he sure did go after mr. boehner once again and for the first time in this round of the fight he called out the senate republican leader mitch mcconnell. >> we could get that done this week. but we are still in this wrestling match with john boehner and mitch mcconnell about the last 2% to 3% where on average we would be giving them $100,000 for people making a million dollars or more. >> but republicans appear to be getting the upper hand in this debate, shep. a new ras musten poll showed that 51% of voters favor extending the bush tax cuts to everyone including the high income taxpayerers.
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44% said no. >> shepard: a visual aid here. >> the fight is getting a bit graphic literally. check out the cartoon that senate democrats sent to reporters. it says republicans want to blocks tax cuts for the 98 people figures in the cartoon, 98% of middle class taxpayers and 2% of higher income taxpayers are represented by the two little figures in the top hat and tails, the little guy from the monopoly game. we'll see if tax cuts pass go in congress in the next four weeks. >> shepard: we shall see. peter barnes from the bis. thank you. >> fox news is america's news headquarters and as we count down to the all important mid term elections fox news has a new iphone app to help you keep track of the political action. up to the minute information on all the races in your area and beyond. there is original content, exclusive analysis and the best political coverage anywhere that again is on your iphone. go to fox news.com and get the
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app download details. it is your shortcut to american politics. the family of one of the american hikers jailed in iran is asking the islamic republic to at minimum lower the half million dollars bail because they say they can't come up with the money. iran announced it was releasing sarah shourd but officials retractd that and then set ground rules for her release including the $500,000 bail amount. her mother says iran has denied sarah treatment for serious health problems including a lump in her breath and precancerous cells in another part of her body. she has been in jail for more than a year after iran captured two others and her along its borders with iraq. the family says the three were vacationing and hiking in the area and they were aveteran's stadium travelers. the family -- avid travelers. the family released this video of the three dancing, trying to
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show they were just having fun in the area. >> the family is pleading with the government to drop it or lower it. a lot of critics call it ran come money. experts are saying that it is unlikely that iran will drop the bail all together. even if this he did lower it dramatically there are still obstacles in the way here. the united states doesn't have any diplomatic ties with iran so all of the negotiations are going through the swiss embassy and because of the sanctions against iran the financial system there is under very severe restrictions, even if they came to terms trying to transfer that money from this country to that country might be very difficult. the united states has said again and again they will not give the government that is one dime to get these people released. three days now after the iranian government, mahmoud ahmadinejad said he would release sarah shourd the family is back to square one.
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>> it would be a release on bail. it wouldn't mean the trial for espionage wouldn't go forward? >> the trial would go forward but she would be allowed to leave the country and be expected to come back for trial. conventional wisdom would tell you that she wouldn't do that. keep in mind that shane bauer is her fiancee and josh her good friend. what happens to the men if she doesn't come back for trial? do they increase their penalties? does the treatment deteriorate. the family would just like her released first and foremost because of major health concerns they say she is having and not being treated for. >> trace, thanks, good to see you. what is described as a key arrest now in the drug war along our border with mexico. the mexican military report they have nabbed one of the country's biggest suspected traffickers and here he is. details on the arrest and his possible connection to other
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captured cartel boss. plus, more than a dozen states now focused on a federal court case in the state of florida. there, 19 states are opposing president obama's healthcare leg-- legislation. does the government have the authority to require all americans to have health insurance? judge andrew napolitano on why the state may have a stronger argument than the feds. that's next. boss: and now i'll turn it over to the gecko.
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>> shepard: fox news alert. i mentioned that pacific gas and electric a holding a news conference that was scheduled to begin at top of the hour. are it has now begun. for the most part what they are doing is just thanking everybody and talking logistics. if they get into substantive
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matters we will take you back there. our producers are monitoring the latest news as it happens. marines in mexico tracking down one of the country's most wanted fugitives. the man named sergio villa, something not to close to that, this guy you see on the scene. faces an investigation in connection to drug trafficking and organized crime. he did not resist arrest after they cornered him in a safehouse. the raid reportedly involved 30 mexican marines, five armored vehicle and a chopper. analysts say the group leadership is in disarray after the killed or captured several of its top lieutenants including this man known as the barbie. the big one and the barbie. does the united states government have the power now to require americans to get
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health insurance? not a new argument but it as fresh question at the center of the lawsuit filed by the republican attorneys general in 20 states as well as a leading small business group. now, the case is heading to a federal court in florida for a hearing this week. as you know, democrats passed the massive white house-backed healthcare legislation last spring. part requires most americans to purchase healthcare or pay a fine if they don't. a number of republicans questioned the law's constitutionality and they argue that the feds do not have the right to pressure states on the matter. all eyes on the court in pensacola, florida, where the hearing will get underway. with us now judge andrew napolitano host of freedom watch on the fox business network weekends at the times on your screen. we talked about this at the beginning of healthcare. felt like a republican distraction in the early going but you seem to think there may be validity here? >> i think for a couple of reasons. the argument that will be made in pensacola during the course
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of the week and it is an oral argument, lawyers arguing to a judge in what we call motion practice. the government moved to dismiss the case. the case challenges obama care in four areas. >> listen to you, obama care. go ahead. >> i'imusing their phrase. >> one, privacy because the statute requires that the doctors tell the federal government what the patients tell the dock t doc walker do . second states rights. third the cost of healthcare because the statute tells the insurance carrier hass to charge and what to do with the money that they receive. and the most interesting one, the one you talked about, the individual mandate. question, can the federal government order people to buy something that they may not want to buy? and that has never been tested in a court before but once in richmond, virginia where another federal judge said i'm not going to throw out the case
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because, quite frankly, the feds have never claimed the authority to tell people that they have to buy something if they don't want to buy it. >> shepard: and what is your sense on where this thing goes? >> i think that those four challenges will prevail. i think that this federal judge will dismiss those four parts of the statute. shep, it is 2700-pages long. the challenge is for four parts. the four most significant parts. there are many, many, many other regulations there that will remain and that will be appealed by the federal government to the united states court of appeals to the 11th circuit sitting in atlanta and whichever side los loses therel try to get it to the supreme court. >> shepard: it would appear -- it appears at least public opinion is on the side of doing something about this healthcare legislation. >> that is why we have life tenured judges who should not concern themselves with public opinion. their job is to look at the law and look at the constitution
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and address any inconsistencies. >> shepard: isn't this almost entirely political? >> yes, it is. i happen to agree with the constitutional argument. actually, all republican attorneys general. there are states that are plaintiffs where the governor and the legislature of the state, say, for example, pennsylvania, staunchly support the legislation but the attorney general happens to be a republican and he or she signed on with the challenge. the fact that there are 20 states challenging it doesn't make it more likely that they will prevail because ther it ia larger number of states. just means more lawyers, more arguments, more briefs, more times before the court actually rules. >> shepard: and if the republicans take over the house get ready for more lawyers and more briefs and lots of investigations. it will be awesome won't it? >> thatle happen and the president will not get his way on a lot of things if mr. boehner becomes speaker
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boehner. >> shepard: we think we have a lot to talk about now. we could eliminate all the commercials. we would all be tired and no one would be interested. good to see you, judge. >> good to see you. >> greta van susteren down in p-co-lay ahead of the court case talking about the state's attorney general about the lawsuit who also happens to be running for another job, i believe. >> actually, he was. >> he was. now, looking for something else. >> looking for a job. >> shepard: that is tonight at 10:00 eastern time. the truth is at 10:00 or 9:00 central when you got to know the news you got to go to greta. one witness says the explosion sounded like an airplane just crashed in his neighborhood. as we now know it was a ruptured natural gas line. this is the video new to us today from this thing. we will talk to the couple who live a stone's throw away and shot some this of stunning video on their iphone. that's coming up next.
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over 375 million enjoyed, and counting. now available in a new value pack. >> shepard: it is 3:30 in new york. bottom of the hour. time for the top of the news. investigators in california are now asking for the public's help to try to determine exactly what caused this deadly natural gas explosion. a blast which flattened melted cars and blew a citer in the ground more than 160 feet wide and 20 feet deep. happened in san bruno, california, just south of san francisco. today some people are returning to nearby homes to find damage several blocks away from where it all happened. with us now is sherry and
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walter mccaffrey. walter was home at the time of the explosion. their home slightly damaged by the fire. good to see you both, thank you. >> hi. >> thank you. >> shepard: walter, you were home. i know you have been through this often. thank you for indulging us. what were you thinking? >> i was just making sure everybody was out of the house to begin with and i was running all over the house making sure my wife and kids had gotten out, which they did, luckily. and the next thing i was trying to do is just to contact 911 and my wife as well just to make sure she doesn't come back for me so that is what i was doing the whole time. >> shepard: it is my understanding you had been gone about ten minutes. >> yeah, about ten minutes. we were heading out to my mom's house for dinner and walter was going to just change out of his work clothes and follow us. >> shepard: and then walter it is my understanding you pulled out your iphone and got the beginning of this. take us through that. >> right. i had my iphone trying to
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contact 911 and my wife and i don't know how i had the video on. i know i was videotaping afterwards but i remember talking -- i was watching the video, i was talking to my wife at the same time i was taking a video. and i was just telling her don't come here, just stay there and, yeah, and at the same time i was looking for my my and looking out at nye neighbors and yelling out at them the whole time. >> shepard: did you find your dog? and could you feel that heat? >> yes. yes, i could feel it. i couldn't open the sliding door to begin with because everything was just so hot. i was trying to get out and check on nye neighbors and get my -- check on my neighbors and get my dog out. everything was so hot and it was pretty intense. >> and you were yelling at one point, too. >> shepard: i didn't mean to interrupt. there is a satellite delay. go ahead. >> he was yelling at me while he was talking to me telling me how hot it was. he needed to use like his leg
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to open the sliding door and, yeah. >> i was yelling because it was just so loud, the fire, it was just so loud so i couldn't even hear myself. >> shepard: how far away is the natural gas line that broke to your house? do you have an idea? >> it is about maybe a hundred yards away. >> shepard: so not even that many houses away. >> about four homes downhill. >> shepard: four homes down. when you went back, what did you find there? what does the place look like now, your house? >> well, the door i'm thinking, you know, inspectors or maybe the firemen knocked the door down to get in and check the house and do all the post aftermath event inspections so the door was basically nailed shut. >> shut. i don't even know why because i remember leaving the door wide open. >> windows cracked. >> last windows cracked on that side.
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and a lot of the paint bubbled up from the heat. >> the hardwood floor kind of rippled a little bit. >> walter, what did you think that just happened? did you have an idea or did you not process it like that? >> my initial thought was a plane crash just from the sound and, yeah, because initially i kept hearing this like a plane taking off and then for about two or three seconds and then the blast hit and i was on my bed. i was getting ready and then i got knocked to the floor and that is when i was trying to call 911 and i ran out to the deck. >> walter and sherry live with us. sounds like the home is salvageable. lucky folks. good to see you. thanks for the video. >> thank you so much. >> shepard: stay safe. hard to imagine that happening four doors down. all of a sudden so much heat you can't touch your sliding glass door.
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unbelievable. the pentagon putting together what could be a historic deal that would in theory send $60 billion worth of jets and helicopters and other advanced aircraft and weapons overseas to saudi arabia. well, the white house says it will create a lot of jobs but there is certainly a buildup in the middle east going on right now. and we are certainly responsible for a lot of it. what is the response from america's closest ally in the region israel? we are live at the pentagon. that's next.
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the truth, sooner or later, a little mayhem hits us all. today, there will be 15,920 accidents. and that's just cars. if you've got cut-rate insurance, that probably doesn't make you feel too good. but this will: allstate can give you a low price without cutting coverage. dollar for dollar, nobody helps protect your car, your boat, your home... your world from mayhem like allstate. >> shepard: 22 minutes before the hour on studio b. there may not ever be another chance. that from the secretary of state hillary clinton describing the middle east peace talks set to begin tomorrow in egypt. secretary clinton is headed to the region in an attempt to get the israeli and palestinian leaders to cut a peace deal within a year. as you recall the israeli prime minister benjamin netanyahu and
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the palestinian leader met earlier this month for talks at the white house. one of the biggest hurdles new israeli housing construction. >> the west bank. a curb on new homes is set to expire this month and palestinian leaders demanding an extension. the pentagon is putting together what would be the largest u.s. arms deal ever, a deal including up to $60 billion of advanced aircraft for the saudis. it would reportedly support at least 75,000 jobs. well, despite that, a new government study finds the global recession is hurting worldwide weapons sales. the report indicates sales dropped to the lowest level since 2005. jennifer griffin with the news live at the pentagon. i understand the deal includes fighter yets and blackhawk helicopters and all kinds of stuff. >> and also includes a political element. no coincidence that boeing based in missouri would be the beneficiary of the deal. one of the main beneficiaries. they say and the white house says it could in fact create
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thousands of jobs. it is not clear whether it would create the jobs or simply save the jobs. the u.s. hasn't sold f-15 fighter jets overseas in the last ten years and the u.s. military doesn't buy f-15s any more. they were slated to close the line. this would be a big boon for missouri and for boeing, shep. >> shepard: is there an indication that the israelis might feel nervous about the u.s. arming the saudis. >> absolutely. sources tell me they were so nervous that they sent the defense minister ehud barouk to talk about the deal. he received assurances as did prime minister netanyahu when met with president obama in the white house they were very concerned that the jets could be used against israel and they have been given assurances i'm told and now i understand the israelis will not block this when it goes to congress because it needs congressional approval for such a large arms
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deal to saudi arabia. >> shepard: and not just fighter jets, talking choppers and all kinds of stuff. >> 84 f-15s but also the hundreds of blackhawks, little birds as well as apaches. but there is a second phase to this that will include combat ships. there is a naval component to this that is worth billions of dollars as well as missile defense system that would benefit lockheed martin and raytheon. >> shepard: some of the top financial minds in the world got together and agreed on new rules that are suspects posed to prevent a financial crisis or that is the goal at least. what kind of impact will that have on our finances? we will find out what the regulations mean in the real world. that's next. mom, new shoes?
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old legs. p.a.d., the doctor said. p-a-d... p.a.d. isn't just poor circulation in your legs causing you pain. it more than doubles your risk of a heart attack or stroke. i was going to tell you. if you ha p.a.d., plavix can help protect you from a heart attack or stroke. plavix helps keep blood platelets from sticking together and forming clots, the cause of most heart attacks and strokes. call the doctor about plavix -- please? i will. [ male announcer ] certain genetic factors and some medicines such as prilosec reduce the effect of plavix leaving you at greater risk for heart attack and stroke. your doctor may use genetic tests to determine treatment. don't stop taking plavix without talking to your doctor as your risk of heart attack or stroke may increase. people with stomach ulcers or conditions that cause bleeding
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should not use plavix. taking plavix alone or with some other medicines including aspirin may increase bleeding risk, so tell your doctor when planning surgery. tell your doctor all medicines you take including aspirin especially if you've had a stroke. if fever, unexplained weakness or confusion develops, tell your doctor promptly. these may be signs of ttp, a rare but potentially life-threatening condition, reported sometimes less than two weeks after starting plavix. other rare but serious side effects may occur. [ female announcer ] talk to your doctor about plavix. >> shepard: oleander the world regulations now.w the rules will not go into effect for nine more years.
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government bankers agreed on the regulations yesterday. here are some of the details. over the next several years banks tore increase the amount of money they keep in reserve so the more money the bank lends the more it has to keep stashed away. the rules are meant to give banks a better chance of surviving during a financial crisis but critics say they could limit the amount of money that banks lend to businesses and consumers. so what does it mean for you and your credit? with us now from washington, kerry wittkowski a washington financial editor for reuters news service. good to see you. thank you. >> thank you for having knee. >> nine years, what are we doing here? some of it is a rampup, right? >> it marked a compromise. there was a lot of players at the table, international regulators and there was a big sense that you don't want to put too much restrictions on the banks when the economic recovery has not really taken hold yet so they reached a compromise.
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set higher capital standards than they might have otherwise but they did have a much longer implementation period for the new standards. >> shepard: none of this really shepard smiths us much over the next few years. >> over the next 2013 is when these things start to go into effect. actually regulators especially in the united states are holding banks to a higher regulatory standard than what is currently on the books so it is a lot of institutions in the u.s. actually pretty much meet these standards that are going to be rolled out over the next few years. >> shepard: our banks still aren't lending very much and there are concerns about that. a sense that at least small banks are beginning to turn the tide there? >> we are seeing a bit of increase in the amount that banks are willing to lend. it is still really under pressure. a disparity between small banks and large banks. large banks are much more tight fisted with the loans they are extending to both businesses and individual consumers. >> shepard: large banks have mostly taken our money and bought other banks with it,
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haven't they? >> it is true. they are keeping pretty tight with their capital right now. part of it is regulators that are instructing them to keep the reserves, especially if there is a risk of a double dip recession still out there. >> shepard: given the new global banking rules do we have a way to know exactly how consumers will be affected? >> we do not. a lot of the rules do not fully go into effect until almost nine years. who knows what credit conditions will be like in almost nine years and if we will possibly be facing another financial crisis in that period of time. >> shepard: you wonder if this isn't kind of a big show to make it look like they are working really hard. nine years from now we don't even know what the world is going to look like. >> true, we don't know. this is actually a harsher standard or a much stricter standard for capital than a lot of people feared especially behavior you have u.s. and global and other banking units at the table. u.s. was trying to take a
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harder stance in some respects. european banks were balking, especially the german banks were being a little bit -- wanting easier restrictions. this overall is a pretty stuff standard. >> fox business network is reporting that the rules kind of go easy on the banks? >> you see that global bank stocks rallied today and i think they rallied because of the long implementation period. these really are stricter standards, practically triple what the standards are in the books right now. tough standards but it will be a long time for them to comply. >> shepard: thank you. and she mentioned the dow today, financial markets around the world have reacted to this. the dow is up about 87 points, or, you know, about 8/10 of a percent if you will. just about 12 minutes left in the trading day and we will keep you updated. they are the super bowl favorites and this year's nfl reality tv darlings but today the new york jets are facing
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new controversy after the allegations that the players and members of the organization harassed and cat called this reporter at one of the practices. hello reporter. the latest apology and the possible fallout coming up. and chief correspondent jonathan hunt is chatting away with the latest stories. click on the hunt tab. the jets may have bigger problems really than this particular problem because they are hyped to the point where if they are not about 19-0 they are in a losing position. you would think that they have hung the moon and are in charge of keeping it lit in the tri-state area and there is only one team with a victory here and that is the new york giants. the jets play tonight and we will see what gang green has i. store. more on discussions of their taunting and cat -- to work ben than tylenol 8 hour. so why am i still thinking about this? how are you? good, how are you? [ male announcer ] aleve. proven better on pain.
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>> shepard: 8 minutes to cavuto. the owner of gang green the new york jets says that he has
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apologized for his team's bemaveor after an incident with a female correspondent who calls herself the hottest sports reporter in mexico. the nfl and the jets are investigating reports that certain players and coaches made suggestive comments to this woman, inez saynes. she works for tbs and was at jets practice over the weekend. she claims that the comments made her "uncomfortable" but says she never felt threatened. rick on this one. rick, what did the coaches and players reportedly say and do specifically, sir? >> well, witnesses at the practice say not only were comments flying but footballs were, too. they say that the head coach and assistant were purposely overthrowing passes so they would land near the reporter and her crew. she tweeted she was dying the embarrassment because of the cat calls and comments she
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received when walking in the locker room. she said that i never felt attacked nor that they reacted grossly towards me. i arrived in the locker room and there were comments in games. one of the other reporters came up and apologized for what was happening but i thought she says the players were joking around. she tweetd that her outfit of tight jeans and a button downshirt was not inappropriate and there is the outfit there. >> jeans and a shirt. >> shepard: cat calls and stuff and says it was joking but the nfl was apparently very serious about this. >> and they spoke to her she says. the nfl officials spoke to her and team officials say they are investigating the reports of suggestive comments and behavior. we have a quote from the new york jets a statement that they released earlier today saying the new york jets believe that reporters have a job to do and it is our obligation to provide them with proper and professional access. by the way, sayne says that the rest of the media have stood in
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solidarity with her, denouncing what happened, hoping there was always a respectful client. >> shepard: they were not in an executive boardroom but in a locker room. >> that is where this happened on the football field and in the locker room. >> rick levinthal. he is on the monitor below you tonight. >> gang green tonight. >> shepard: they have to win all 19 games to be a success. read the papers here lately? >> hard knox is a great show but put a lot of pressure on them i think. >> shepard: one team undefeated in the tri-state. >> i saw them give up a drive in the past few minutes of the first half that was pathetic. >> and saw them win the game. >> they did win the game. >> shepard: that is what matters. the 1-0s and the 0-1s like the dallas cowboys. >> also the 0-0. >> shepard: that is the jets. no wins and no losses. good to see you, thank you.
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>> yep. >> shepard: oprah winfrey gearing up for the last hoorah. what she has up her sleeve for audience members. i know you are dying to know. h
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welcome to progressive. nice calculator. i'm just trying to save money on my car insurance. you know, with progressive, you get the option to name your price. is that even possible? uh, absolutely. trade? and i still get great service? more like super great.
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>> you are going to australia. >> surprised all 300 in the audience with a trip, vacation to australia. she says is is one of the places she always wanted to visit and her staff has spent the past year planning a week long group vacation. it will culminate with a special taping of the oprah show at the sydney operahouse. the sydney operahouse. then this before we wrap things up here. a wanted fugitive is in cust day in massachusetts. take a look. a photographer spotted this alligator resting on a log in a river near boston last week. it is about a thousand miles from the natural habitat. a wildlife official says somebody probably had it as a pet and released it illegally when it got too large. a local reptile specialist eventually tracked that ail gator and captured it. he says the animal will